Converting Opportunities into Sales | Understanding the Common Barriers

Converting Opportunities into Sales!

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Converting Opportunities into Sales | Understanding the Common Barriers!

Agenda!

•  11 common barriers to conversion!

•  11 solutions to the barriers!

•  Questions!


Barrier #1!Thinking that it’s all about closing and objection handling…!



Barrier #1 !Thinking that it’s all about closing and objection handling…!•  Closing is easy – if you’ve “done the work”!!




Barrier #1 !Thinking that it’s all about closing and objection handling…!


•  Closing is easy – if you’ve “done the work”!

•  Objections happen because you haven’t “done the work”!







•  So – DO the work!!





Solution!It’s about earning the sale at the front end of the sales process.!



•  So – DO the work!!


Barrier #2!Jumping ahead to offering solutions and pricing…!



Barrier #2 !Jumping ahead to offering solutions and pricing…!


•  If it was just about quoting – you would be a computer!






•  Do you get paid to write proposals?!







•  Don’t “price” until they’ve “paid” you something!!!







•  Don’t “price” until they’ve “paid” you something!!!Solution!Avoid providing free quotes or pricing and focus on developing a relationship and understanding that enables you to offer a genuine solution.!


Barrier #3!Failure to build “trust” before selling a solution…!




Barrier #3 !Failure to build “trust” before selling a solution…!

•  Even surgeons have had to learn bedside manner!!

•  If they don’t “like” you, they will take your price/ solution and buy somewhere else!

!





•  Being a friend is NOT enough to confirm “trust”!

•  People do what experts tell them to do!





Solution!Ensure you have a deliberate strategy for building both rapport and credibility. !!Remember that experts are paid more than friends.!


Barrier #4!Failure to help the opportunity answer question #1 before moving to questions #2 and #3…!




Barrier #4 !Failure to help the opportunity answer question #1 before moving to questions #2 and #3…!

Why do anything?

Why do it with you?

Why do it now?

Question 1 Question 2 Question 3




Barrier #4 !Failure to help the opportunity answer question #1 before moving to questions #2 and #3…!

Solution!Remember that the opportunity does not care about your solution until they care about their situation.!

Do anything? Do it with you?

Do it now?

WHY


Barrier #5!Failing to understand why they haven’t yet bought your solution…!




Barrier #5 !Failing to understand why they haven’t yet bought your solution…!

I’m not aware of or don’t believe your solution will improve my situation

I’m happy/ content with the current solution or no solution

It’s too hard, risky or expensive to buy your solution

I’m ignoring the negative consequences of doing it the current way

AVOID PAIN GAIN PLEASURE

PURCHASING

NOT PURCHASING




Barrier #5 !Failing to understand why they haven’t yet bought your solution…!

Solution!Broaden your needs analysis questions to explore all four reasons for not buying.!




I’m ignoring the negative consequences of doing it the current way


PURCHASING

NOT PURCHASING


Barrier #6!Selling benefits instead of provoking, highlighting and quantifying problems and issues...!




Barrier #6 !Selling benefits instead of provoking, highlighting and quantifying problems and issues...!

We can save you $200 on

your power bill per quarter

You have been paying $200 too much per

quarter on your power bill and we can rectify it




Barrier #6 !Selling benefits instead of provoking, highlighting and quantifying problems and issues...!

Solution!Present your benefits as problems to be solved.!

You have been paying $200 too much per

quarter on your power bill and we can rectify it


Barrier #7!Failing to identify issues and develop provocation strategies...!




Barrier #7 !Failing to identify issues and develop provocation strategies...!

Issue Issue Provocation Strategy

Example: Lack of coaching by sales managers

•  Where are your sales managers at in relation to coaching performance and sales skills?

•  Where would you like them to be?

•  What do you think the issues they face are in relation to

coaching more effectively?

•  How do you think they would coach something like improving conversion?




Barrier #7 !Failing to identify issues and develop provocation strategies...!

Solution!Use questions to educate opportunities on what the problems might be and get them to tell you they have a problem you can solve.!


Barrier #8!Selling to people that aren’t ready to buy...!



Barrier #8 !Selling to people that aren’t ready to buy!


•  How do you know if they’re “ready to buy”?!






•  Test BEFORE you put effort into solutions/ pricing!







•  Include coaching for stalled deals in your pipeline!





Solution!Make sure you genuinely have an IDEA whether the opportunity is serious about taking action and solving the problems you’ve highlighted. !



•  Include coaching for stalled deals in your pipeline!


Barrier #9!Failing to have a strategy to activate the four drivers of action... !




Barrier #9 !Failing to have a strategy to activate the four drivers of action...!

•  Benefits are weak as a motivator for taking action! I’m excited about

buying and believe that it will improve my situation

I’m no longer content with my current solution

I can justify buying from you and its so easy to do so

I understand, believe and acknowledge that there are negative consequences if I don’t buy


PURCHASING

NOT PURCHASING




Barrier #9 !Failing to have a strategy to activate the four drivers of action... !

I’m excited about buying and believe that it will improve my situation





PURCHASING

NOT PURCHASING

•  Benefits are weak as a motivator for taking action!

•  Make it painful to not act!




Barrier #9 !Failing to have a strategy to activate the four drivers of action !






PURCHASING

NOT PURCHASING


•  Make it painful to not act!!










PURCHASING

NOT PURCHASING


•  Make it painful to not act!

•  Take away the objections!





Solution!Motivating opportunities to buy requires more than just talking about the benefits.!






PURCHASING

NOT PURCHASING


Barrier #10!Failing to discuss barriers to buying and partner with the prospect on removing them…!




Barrier #10 !Failing to discuss barriers to buying and partner with the prospect on removing them…!




I ’m ignor ing the negat ive consequences of doing it the current way


PURCHASING

NOT PURCHASING




Barrier #10 !Failing to discuss barriers to buying and partner with the prospect on removing them…!

Solution!Help the opportunity hypothetically purchase your solution and make sure you are forewarned of any barriers to taking action. !


AVOID PAIN


Barrier #11!Giving it ALL away for free…!




Barrier #11 !Giving it ALL away…!




Barrier #11 !Giving it ALL away…!

Solution!Solve enough of the problem to let the opportunity know you can solve it all, if they’re serious about taking action and buying from you.!


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